mdwt in A Sentence
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The strong markets of 2015 into 2016 led to additional ordering, with nearly 39 million deadweight(Mdwt) of crude carrying tankers contracted in 2015.
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This is a respectable percentage, particularly when you compare it to the end of 2008 when the orderbook(120 Mdwt) was 46% of the existing fleet(260 Mdwt).
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Analysts also note the ratio of the vessel orderbook(59 Mdwt at end 2018) in the crude sector, to existing fleet size(380 Mdwt by end 2018), or around 15.5%.
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In 2018, expected fleet growth will be 4 Mdwt, or a little more than 1%, with vessel scrapping at 17 million dwt, more than twice the yearly average over the previous decade.
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During the first nine months of 2018, a total of 22.7 million deadweight tonnes(Mdwt) of tankers were delivered into the fleet while 19.2 Mdwt were removed for scrapping, resulting in net fleet growth of just 3.5 Mdwt(or 0.6 percent),
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